Has any one ever been questioned by ......

[cyberdan]

Has any one ever been questioned by the tax guys? I am sure they have robots that scan everything especially chat groups like this. I pay my taxes but a few years ago, when I was heavy into CRH, I would buy $1000 to $1500 in JFKs at bank A and then deposit the rejects into bank B and then withdraw and go back to bank A. On paper it look like I would have a very good income, but it is just moving lots of $$ around in circles.

In my check books I kept pretty good notes of money going back and forth. (just in case)

 

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[trdking]

Pretty sure you don't have anything to worry about. They only chase what they think they can make money on. Not enough to make it worth their while.

 

[FormerTeller]

Never been questioned, but I keep very detailed spreadsheets showing why I've withdrawn & deposited each time. If audited or investigated I could confirm my data easily enough. As trdking noted, there's nothing for the IRS to take interest in, at least until the silver is sold.

 

[LooseChange]

Some historical posts . . .
http://www.treasurenet.com/forums/c...big-brother-watching-some-advice-you-all.html
http://www.treasurenet.com/forums/c...s-when-you-do-lots-high-volume-searching.html

 

[Quin]

Some historical posts . . .
http://www.treasurenet.com/forums/c...big-brother-watching-some-advice-you-all.html
http://www.treasurenet.com/forums/c...s-when-you-do-lots-high-volume-searching.html

Wow...that first story is scary. I wonder...is anyone still hunting $10K per week? Maverick maybe?

 

[baddbluff]

I wouldn't worry about it - for every deposit there's a withdrawal. If you sat down with them and did the math, they'd see that you really aren't making much. Even building a large stack, it costs so much to do it, that you aren't even making min wage

 

[FormerTeller]

Hunting 10k a week is not the issue. Depositing $10k in one transaction or in total between several branches of the same bank is what raises red flags. This is a banking regulation that had been in place for literally decades - we had to fill out the forms and send them in to the Secret Service back in the 80's when I was a teller.

 

[LooseChange]

...Depositing $10k ... in total between several branches of the same bank...

This is the one that can really, really cause trouble. Whether it is intentional or not, if the bank chooses to call it suspected structuring (via a suspicious activity report [SAR]), the feds will most likely freeze the account.

Do not make deposits that seem like structuring ( https://en.wikipedia.org/wiki/Structuring ).
Do not do anything that would cause your bank to file a suspicious activity report [SAR] ( https://en.wikipedia.org/wiki/Suspicious_activity_report ).
Do not tangle with FinCEN ( https://en.wikipedia.org/wiki/Financial_Crimes_Enforcement_Network ).
Do keep a clean ChexSystem/FACTA report ( https://en.wikipedia.org/wiki/ChexSystems ). it is not only for overdraft reporting, but any banking activity.

 

[ArkieBassMan]

I remember a story or two on this forum years ago about someone getting questioned by some alphabet gov't group.

 

[fistfulladirt]

A teller can generate a SAR without your knowledge, when withdrawing your own cash from your account.

 

[Honest Samuel]

I do not have much money to redraw except to pay bills.